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Home > Home > Insurance Brokers > Broker Registration Terms and Conditions

Broker Registration Terms and Conditions

By registering as a broker with Export Development Canada (“EDC”), you agree to be bound by these Terms and Conditions.

Binding Authority

You may submit accounts or risks to EDC on behalf of your client with regard to insurance coverage from EDC. The relationship between yourself and EDC is not intended, and shall not be construed, to create any type of partnership, joint venture, agency or employment relationship between yourself, any of your officers, representatives and employees, and EDC. Both parties acknowledge that you are for all purposes an independent contractor.

You have no authority to unilaterally bind EDC or any of its officers or employees. EDC, in its sole discretion, shall decide to accept or refuse acceptance of any application for insurance that you submit. EDC shall incur no liability for failure or refusal to insure any such risk.

Representations and Warranties

You represent, warrant and undertake that:

  1. the information provided in the registration form is accurate and complete as of the time of registration;
  2. the information provided in the registration form will be continuously updated so as to be current, complete and accurate at all times;
  3. you and your employees, agents, representatives or affiliates, as applicable, will act only in accordance and within the bounds of your applicable licenses;
  4. you and your employees, agents, representatives or affiliates, as applicable, have obtained and will maintain all necessary licenses in good standing;
  5. you are a resident of a province or territory in Canada and you confirm that all business and communications with EDC shall be conducted from a location in Canada;
  6. you will promptly notify EDC in writing of any suspension, cancellation, disciplinary action, limitation, charge, conviction, allegation or investigation arising with respect to any of your or your employees’, agents’, representatives’ or affiliates’ licenses; or of any material change in your ownership;
  7. you and your employees will take and have taken all reasonable steps, in accordance with industry standards and best practices to verify that any and all information provided to EDC in connection with the obtaining of any insurance coverage is true, valid, accurate and complete, and contains no material misrepresentation of any kind;
  8. you and your employees will ensure that all information from EDC, including offers and non-binding indications for EDC’s products are promptly delivered to your client;
  9. if you are registering on behalf of a brokerage firm, that you are authorized and capable of binding the brokerage firm to these Terms and Conditions; and
  10. you will notify EDC promptly upon becoming aware of any change that may impact or alter the risk during the policy cover period and at any subsequent Renewal.


  1. General

    1. Payment of Commission: Commission is payable to you, as per the rates specified herein and in accordance with each eligible product identified in Table A and Table B, if the policy is issued and subject to EDC’s receipt of the premium and your compliance with these Terms and Conditions. The commission will be paid on or before the last day of the month following the month the premium is received by EDC and in the currency in which the premium was received.
    2. Commission for Domestic Insurance: If applicable, EDC will forward any commission owing to you for domestic insurance provided by EDC’s Domestic Partner under joint policies at the rates and in accordance with the provisions specified in these Terms and Conditions.
    3. Reinsurance Arrangements: Where EDC acts as a Reinsurer, EDC shall not have any obligation or responsibility to pay any compensation to you in respect of reinsurance agreements.
    4. Return of Commission: Within 30 days of EDC’s notice to you, you will return commission on any premium that EDC reimbursed to the insured. Commission must be returned to EDC at the same rate and in the same currency as it was originally paid by EDC. EDC shall have the right to reconcile amounts, and deduct any commission amount to be returned from commission payable and any such reconciliation shall be reflected in a monthly report which EDC will present to you.

  2. Former Broker Agreements
  3. All Broker Agreements entered into with EDC prior to January 1, 2017 shall be governed by these Terms and Conditions, including without limitations, the compensation framework set out in Section 3, below.

  4. Compensation Framework
  5. Effective January 1, 2017, the following compensation framework applies to all broker arrangements entered into by EDC with a registered broker.

    For the purpose of the Compensation Framework, business is organized into the following two categories: (i) EDC Credit Insurance Products; and (ii) Other EDC Insurance Products.

    Compensation is subject to your compliance with all representations, warranties and obligations set out in these Terms and Conditions.

    1. EDC Credit Insurance Products

      1. New Business: For New Business or any subsequent Renewal of such business, EDC will pay commission on the products and at the rates set out in Table A
      2. Existing EDC Business: Upon receipt of the Broker of Record Letter signed by your client and EDC’s form of Consent to Share Agreement signed by your client, commission will be payable upon your Renewal of the policy in accordance with the following rates:

        1. The commission rate following your first Renewal of the policy will be 7.5%.
        2. The commission rate following the second Renewal of the policy will be 15%.

        The total commission on any one existing policy which was Existing EDC Business shall at no time exceed $100,000 in any one twelve-month period

        Note “$” means either Canadian or United States of America dollars, based on the currency in which premium is received by EDC

        Table “A”

        EDC Credit Insurance Products

        Accounts Receivable Insurance (ARI)
        EDC Portfolio Credit Insurance (PCI)
        New Business 15% 15%
        New to Credit Insurance 15% + 5% for Year 1 15%


        Note "Year 1” means the 12 month period beginning when the Policy that is New to Credit Insurance was issued.

        Note EDC Clients only insured under the Trade Protect/Select Credit Insurance product remain eligible for the New to Credit Insurance bonus of 5% for Year 1 when a broker signs them to new ARI or PCI products.

    2. Other EDC insurance Products: The following table outlines broker commission rates for the following other EDC Insurance Products:
    3. Table “B”

      Other EDC Insurance Products
      Contract Frustration Insurance (CFI) 15% N/A
      Factoring policies including Supplier Payment Programs 15% 15%
      Surety Bond Insurance under a Fronting Agreement 15% N/A
      Performance Security Insurance (PSI) 15% N/A
      Political Risk Insurance (PRI)
      (including Non-Honouring of Sovereign Obligations)
      15% 10%

Cooperation and Communication

  1. General

    1. EDC may communicate directly with your client when EDC deems it necessary. If EDC is visiting the insured for the purpose of discussing the insured’s policy, EDC will give you advance notice and invite you to attend the visit. In the event EDC communicates or visits the insured for matters not involving insurance products for which you are involved, any responsibility to inform you rests with the insured.
    2. You acknowledge and agree that if EDC receives a request from an insured concerning the commission rate payable by EDC, the insured will be able to view these Terms and Conditions on EDC’s website.
    3. You acknowledge that EDC is subject to the Access to Information and Privacy Acts and that information provided by or relating to you may be accessible under those Acts.
    4. You will not access EDC’s systems by any means other than through your EDC assigned broker account. Under no circumstances are you permitted to access customer accounts on EDC’s system, even with your client’s consent.

  2. Your Responsibilities
  3. You are responsible for the sound general management of your client’s EDC insurance policy and will act as the liaison person between your client and EDC.

    1. New Applications
    2. You will

      1. submit complete, accurate applications including all pertinent information requested by EDC;
      2. present offers back to your client in a timely manner;
      3. ensure that the client understands their insurance policy and adheres fully to all of their contractual obligations and respects all of the terms and conditions contained within the policy; and
      4. proactively follow-up on all questions EDC may have with regards to your client.

    3. During the life of the policy
    4. You will:

      1. address all of your client’s concerns with EDC employees, including underwriters and account managers, promptly and communicate back information to your client as soon as possible; and
      2. fully cooperate with EDC for underwriting purposes as well as to facilitate the investigation and adjustment of any claim when and as requested by EDC. EDC will communicate with you by copying you on all the insured’s correspondence.

    5. Renewals
    6. You will present updated information as required by EDC in order for EDC to provide the best quote possible for your client.

    7. Interactions between Brokers and EDC employees
      1. your main EDC contact is the Broker Account Manager who can be reached atBrokers@edc.ca. All inquiries and applications should be sent to that email address.
      2. you can contact EDC underwriters at any time on behalf of your client with or without your client present.


In consideration of EDC providing you with certain information relating to EDC’s products and rates, whether communicated in written form, orally, visually, demonstratively, technically or by any other electronic form or other media, or committed to memory, and whether or not designated, marked, labeled or identified as confidential or proprietary (“Confidential Information”) you will not release to any person other than your employees, officers or legal counsel, nor use in any manner not related to providing brokering services to your client, any Confidential Information received from EDC, except as required by law or under statute. This duty of confidentiality is subject to the requirements of applicable law, regulation, legal process and disclosure.

The confidentiality obligation shall not apply to any Confidential Information which is: (a) in the public domain as a result of disclosure by your client, a third party or, EDC; (b) already in your possession at the time of its disclosure to you; or (c) used or disclosed with the prior written approval of EDC. Any information to which one of the foregoing exceptions applies shall be deemed to not be, or cease to be, confidential.

In the event of accidental or unauthorized access, disclosure, use, modification, and deletion of confidential information (including personal information) (the “Incident”), (a) the party responsible for the Incident will promptly take all reasonable steps to prevent a recurrence of the Incident and such party will promptly notify the other party of the occurrence, and (b) both parties will collaborate in the resolution of the Incident.

You acknowledge and agree that EDC may suffer irreparable harm as a result of the breach of this confidentiality section and that damages may be an inadequate remedy. Accordingly, EDC, if it has suffered or would suffer harm as the result of a breach of this confidential section by you, may, subject to applicable law, be entitled to injunctive relief. Such remedies shall, subject to applicable law, not be deemed to be the exclusive remedies available for any such breach but shall be in addition to all other remedies available at law or in equity. You acknowledge that EDC is not waiving any rights which it may have pursuant to applicable law.


EDC and its suppliers have implemented and will maintain secure systems for transmitting transactional information and to protect the security and privacy of the information you provide in your on-line registration form and through emails. However, you acknowledge that the security of communications over the Internet cannot be guaranteed and EDC will not be responsible for any damages you may suffer relating to any unauthorized disclosure or interception of any communications occurring over the Internet, or unauthorized accessing of any documents stored in your account.

Personal Information

EDC is subject to the Privacy Act and collects, uses and discloses personal information accordingly. You consent to EDC collecting and storing, any personal information that you have provided in the registration form. Your personal information will not, without your consent, be used for any purpose other than what is outlined in these Terms and Conditions except as otherwise required by law. You have the right to access your personal information by contacting the EDC PrivacyTeam at privacy@edc.ca by mail at 150 Slater Street, Ottawa, ON, K1A 1K3.


The relationship between yourself and EDC may be terminated for convenience at any time and for any reason by either yourself or EDC by giving ten days prior written notice to the other party.

The relationship between yourself and EDC shall also terminate automatically upon notice by EDC: (a) if any public authority cancels or declines to renew your license or certificate of authority; (b) at EDC’s option on the effective date of the sale, transfer, or merger of your business with the provision that EDC may, upon review, appoint the successor as broker subsequent to its successful registration with EDC; (c) in the case of fraud, insolvency, failure to pay balances, or willful or gross misconduct; or (d) in the case of a breach of any representations, warranties, undertakings, terms or conditions contained in these Terms and Conditions. All representations, warranties, undertakings and obligations of these Terms and Conditions shall survive the termination of this relationship.

Change Terms

EDC will have the right at any time to change or modify these terms and conditions, including the compensation framework upon written notice to you.

Continuing to act as broker for your client after EDC has given notice of such changes and modifications shall constitute your acceptance of them.

Terms of Use

Your acceptance of these General Terms and Conditions includes acceptance of EDC.ca’s Terms of Use which are hereby incorporated by reference. Please refer to EDC.ca’s Terms of Use at http://www.edc.ca/EN/About-Us/Pages/terms-of- use.aspx .


Every notice, demand, request, consent, approval, waiver or agreement to be given or made hereunder shall be in writing and shall be delivered to the other party by hand, sent by mail, or transmitted by e-mail or other electronic means as follows:


150 Slater St, Ottawa, ON, K1A 1K3

Email: brokers@edc.ca


To the email address or postal address reflected in your registration information.

Any notice will be deemed effective (a) if delivered by hand, upon delivery, (b) if sent by mail, the earlier of actual receipt and seven days after posting, and (c) if transmitted by e-mail or other electronic means the date of transmission, in each case excluding Saturday, Sunday and any national or statutory holiday when the offices of the receiving party are closed for business.

Governing Law

These Terms and Conditions are made under and will be governed by and construed in accordance with the laws of your province of residency and the federal laws of Canada applicable therein.

Entire Agreement

These Terms and Conditions constitute the entire agreement between the parties and supersede all previous negotiations, understandings and agreements, verbal or written with respect to any matters referred to in these Terms and Conditions.


You have explicitly requested and accept that these “Terms and Conditions” be drawn up in English. Vous avez expressément requis et acceptez que ces « Conditions Générales» soient rédigé en anglais.

Definitions for Broker Registration Terms and Conditions

“Broker of Record Letter” means a letter whereby a company agrees and confirms in writing that the Broker is designated to represent the company in accessing the services of various insurers, including EDC, and such letter is satisfactory to EDC;

“Consent to Share Agreement” means a signed letter as per EDC’s form found in Appendix “B” to EDC that is obtained by the Broker and remitted to EDC whereby an insured authorizes EDC to provide the Broker with access to all information and documentation concerning its insurance policies, including without limitation; declarations, credit approvals issued for all buyers, overdue reports, losses and claims documentation;

“EDC’s Domestic Partner" means Compagnie Française d’Assurance pour le Commerce Extérieur – Canada Branch (“Coface”) or any other company with which EDC enters into an agreement with respect to domestic insurance coverage;

“Existing EDC Business” means any existing credit insurance policy between an insured and EDC which was managed solely by EDC without the involvement of a broker;

“New to Credit Insurance” means any New Business not previously insured with EDC or with another insurer, during the six months immediately preceding the effective date of the new insurance policy;

“New Business” means any credit insurance business that was not previously Existing EDC Business during the six months immediately preceding the effective date of the new insurance policy;

“Reinsurer” means the role and responsibility of EDC where EDC reinsures a surety or insurance company in respect of surety bond or an insurance policy;

“Renewal(s)” means a prescribed policy renewal process applicable to a policy type; or in the case of an ongoing (“evergreen”) policy with no fixed renewal date, the continuation of the policy after its anniversary date, following a review of the policy undertaken by EDC in order to confirm coverage for the following year.

Consent to Share Agreement

(Between EDC/Broker/Client)


Policy No. _____________                    issued to                                                                                (the “insured”)

Until EDC receives written notification from the Insured to the contrary and with respect to the Policy and any Policy issued by Compagnie Française d’Assurance pour le Commerce Extérieur – Canada Branch (“Coface”) to the Insured in connection with the Policy (collectively the “Policies”) the Insured authorizes EDC to provide ______________________________________ (“the Broker”) with:

  1. access to all information and documentation concerning the Policies which is now or hereafter made available to the Insured on designated EDC website pages; and
  2. all information and documents requested by the Broker concerning the Policies which is also available to the Insured including, but not limited to, information concerning the Insured’s compliance with the terms and conditions of the Policies, declarations, all credit approvals issued for all buyers, overdue reports, losses and claims.

This authorization is in addition to any previous or other authorization or direction to provide the Broker with information concerning any of the Policies and the revocation of this authorization shall not affect any such previous authorization or direction.

Insured Name:

Authorized Signature:                                                            Date:


By clicking the 'I agree' button below, you are agreeing that:

  1. you have read and understood these Terms and Conditions;
  2. you agree (on behalf of the brokerage firm registering, if applicable) to be bound by these Terms and Conditions; and
  3. that clicking on the 'I agree' button constitutes a binding signature as if an original written signature were affixed.

Once you click on the "I agree" button and register your brokerage firm, the binding Terms and Conditions will be e-mailed to you directly. We recommend that you print out a copy of these Terms and Conditions for your records.

***EDC will not be in a position to accept new business opportunities or accept a Broker of Record Letter if the broker registration process is not complete.

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